GUILTY Case# 2011-082 | cmingoti vs www.hfx.com

[Stag]

So you were asked to complete a volume of 125 lots to be allowed to withdraw the money you earned, right? This means for me that at this point they acknowledged your 5k balance just they found that the number of transactions were fewer than expected (the more you trade the more chances are you fail). So your 5k balance is OK if it is a result of 125+ transactions.

They would have known that if you could make 5k with much less transactions you will make much more by fulfilling their expected number of transactions. Sounds like you were asked to trade aggressively to get trapped. And thats what happened, turned out that you are better than expected.

Though your fraudulent activity is still a question for me (did you use any EA or all of your trades were placed manually?), I would ask them to provide any evidence I was fraudulent.

Ps. I went through their contract and my conclusion is that I wouldn't open an account with them.

 

[Aldo Colombo]

Well, put stop level limitations, or don´t allow EAs or don´t allow scalping, but if you do, Mr hfx, take your loss!!!

Bottom line:

If you do not like her way of trading, pay her the full balance with her profits, close her account and go fix your scammy system.

 

[Mark Polen]

Replay to Pharaoh's Avatar Pharaoh

this is a reply to Pharaoh's Avatar Pharaoh.
Per your question. no this is not the only incident in this account. (my apologizes it took us couple of days to get this from our feed provider)
as you can see there are 3 examples of the same incident. we notice a pattern and we have more like this, but as you can see it's more then enough.
As you can see this client knows exactly what she is doing, one time incident, we would have say, it happens, but when it's a pattern we can't ignore it.

I would like to get your honest opinion
thanks
Mark
EX 1.
Open

Closed


EX 2.
Open

Closed


EX 3.
Open

Close

there is a maximum of 5 images, it will be post in the next post

 

[Mark Polen]

Part 2

here is the 3rd screen shot
Close:


should you have any question please don't hesitate to ask

thanks

Mark

 

[Pharaoh]

Your new set of graphs only seem to have one line. The prior one showed the "real" price vs the price your company displayed.

Since forex is decentralized, for the most part, the price displayed by the brokerage is the price clients pay. If there is a definite pattern of lag trading, then a broker could shut down the client. A broker always has the right to stop dealing with a client. Nullifying closed trades should only be considered under the most extreme circumstances.

1. How many trades on Cmingoti's account has HFX canceled?

2. Where ALL of those trades supposed to be lag trades?

3. What percent of all trades were lag trades?

4. How long did this go on? i.e. How much time from the oldest trade canceled until the cancellation. I know HFX isn't under the NFA, but they have a rule that is very good for comparison - brokers have 15 minutes to cancel a trade if it is due to a pricing error from the liquidity provider.

5. How can HFX have so many incorrect prices displayed? Is there something wrong with your connection to your liquidity provider?

6. If instead of canceling these orders, you had altered the entry/exit prices to the "correct" price, what would that have done to the profit made?

7. For cases where you canceled a Buy order by Cmingoti, were Sell orders placed by all other traders during the same lag period compensated or canceled?

 

[simonbriggs]

this is a serous case,what i feel is that,you only wasted your time trading,and as a matter of fact youwere trading for them,and they want to rake in your profit and evict you out of the market,that why they feel confident to give your original deposit.This is a fraud in action.I suggest you collect your money and latter make report,so other people will not be victimized.God be with you.

 

[Sylvie O.]

Mr HFX

If you have bugs in your platform, you should fix them instead of blaming the traders.

Carla,

If you ever get paid, run far away from HFX.

They are GUILTY!

 

[Dispicable]

Total scam scum--They are GUILTY!!!!!!!!!!!!!!

Total scam scum--They are GUILTY!!!!!!!!!!!!!!
And I love Pharoahs line of questioning. His questions prove the truth even without anyone answering them.
They flat out owe her the money!!!And may she be blessed in her future efforts.

 

[Dispicable]

And how am I only a recruit after being here so many years anyway??? I know I dont post very often,but geeze!! I feel like rodney dangerfield cause "I don't get know respect!!!"

 

[SAMMYFX]

Guilty

This broker is simply a thief. Guilty a million times!!!!